Toyota Sales Fell For The Sixth Month In A Row

Toyota’s car sales fell in July for the sixth month in a row, as weak demand in China, along with high fuel prices and strong competition from domestic manufacturers, continued to put pressure on the Japanese manufacturer’s business.

Toyota’s global sales, including subsidiary Daihatsu Motor, fell 5.3 percent year-on-year to 912,683 vehicles, while production fell 1.4 percent to 934,953 cars.

The biggest problem remains China, where local manufacturers such as BYD are pushing foreign brands more. Sales of “Toyota” and “Lexus” on the Chinese market in July fell by as much as 24 percent compared to the same month last year.

At the same time, disruptions in supply chains due to conflict in the Middle East and rising oil prices have further increased pressure on global producers. Sales in the Middle East fell by almost 45 percent, while sales in North America remained roughly unchanged.

In Japan and most of Europe, sales increased, primarily due to the greater popularity of hybrid vehicles.

Toyota, nevertheless, expects to sell more than five million hybrid vehicles for the first time this year and is also counting on the favorable effect of the weaker Japanese yen.

The company last month raised its profit forecast for the fiscal year ending in March 2027 to 3.4 trillion yen, or about 21 billion euros, the Japan Times reports.

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